Saia, Inc. Reports 17.1% Revenue Growth in Q2 2026, Driven by Increased LTL Shipments

Saia, Inc. reported significant financial growth in its second quarter and first half of 2026, with operating revenue reaching $956.5 million, a 17.1% increase from $817.1 million in the same period of 2025. For the first six months of 2026, the company generated $1.76 billion in operating revenue, up 9.8% from $1.60 billion year-over-year. The increase in revenue was attributed to higher fuel surcharge revenue, a 4.4% rise in less-than-truckload (LTL) shipments per workday, and a 1.5% increase in LTL revenue per shipment, excluding fuel surcharges. The operating income for the second quarter was $125.2 million, compared to $99.4 million in the prior year, while net income rose to $94.3 million, or $3.51 per diluted share, from $71.4 million, or $2.67 per diluted share, in the same quarter of 2025.

The company’s operating expenses also increased, totaling $831.3 million in the second quarter of 2026, up from $717.7 million in the previous year. This rise was primarily driven by higher salaries, wages, and employee benefits, which increased by $43.4 million due to increased employee hours and a company-wide wage increase. Additionally, purchased transportation costs rose by $27.3 million, and fuel, operating expenses, and supplies increased by $37.1 million, largely due to higher fuel prices. The operating ratio improved to 86.9% from 87.8% year-over-year, indicating better cost management relative to revenue.

Saia's operational metrics showed positive trends, with LTL shipments increasing to 2.36 million in the second quarter, up from 2.26 million in the same period last year. The company also reported an increase in LTL tonnage, which rose by 8.4% to 1.7 million tons. The average revenue per shipment, excluding fuel surcharges, was $303.12, reflecting a 1.5% increase. The company’s cash and cash equivalents at the end of the second quarter stood at $84.0 million, a significant increase from $19.7 million at the end of 2025, driven by strong cash flows from operations.

Looking ahead, Saia plans to continue its strategy of expanding its geographical footprint and enhancing its terminal infrastructure to support growth. The company has implemented general rate increases of 7.1% and 5.9% for different customer segments, which are expected to contribute to revenue growth. However, the outlook remains cautious due to potential external factors such as economic conditions, inflation, and competitive pricing pressures. Saia's management emphasized the importance of maintaining operational efficiency and customer service to navigate these challenges effectively. The company anticipates capital expenditures of approximately $350 million to $400 million for 2026, focusing on equipment, technology, and real estate investments to support its growth initiatives.